Apple Inc. (NASDAQ:AAPL) Stake Lowered by Bremer Bank National Association

Bremer Bank National Association lessened its position in shares of Apple Inc. (NASDAQ:AAPL – Get Rating) by 11.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 133,872 shares of the iPhone maker’s stock after selling 16,563 shares during the quarter. Apple comprises 3.8% of Bremer Bank National Association’s investment portfolio, making the stock its 4th biggest holding. Bremer Bank National Association’s holdings in Apple were worth $23,376,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AAPL. Daniels&Tansey LLP increased its position in Apple by 1.6% during the fourth quarter. Daniels&Tansey LLP now owns 3,858 shares of the iPhone maker’s stock worth $685,000 after buying an additional 60 shares in the last quarter. Hanlon Investment Management Inc. increased its position in Apple by 0.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 10,124 shares of the iPhone maker’s stock worth $1,798,000 after buying an additional 66 shares in the last quarter. Financial Planning & Information Services Inc. increased its position in Apple by 1.0% during the fourth quarter. Financial Planning & Information Services Inc. now owns 6,837 shares of the iPhone maker’s stock worth $1,214,000 after buying an additional 67 shares in the last quarter. Salzhauer Michael increased its position in Apple by 2.0% during the fourth quarter. Salzhauer Michael now owns 3,397 shares of the iPhone maker’s stock worth $603,000 after buying an additional 67 shares in the last quarter. Finally, MorganRosel Wealth Management LLC increased its position in Apple by 1.1% during the fourth quarter. MorganRosel Wealth Management LLC now owns 6,394 shares of the iPhone maker’s stock worth $1,135,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 57.98% of the company’s stock.

In related news, COO Jeffrey E. Williams sold 105,901 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $177.75, for a total value of $18,823,902.75. Following the sale, the chief operating officer now directly owns 489,662 shares in the company, valued at approximately $87,037,420.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Deirdre O’brien sold 29,198 shares of the firm’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $177.77, for a total value of $5,190,528.46. Following the completion of the sale, the senior vice president now owns 136,290 shares in the company, valued at $24,228,273.30. The disclosure for this sale can be found here. Insiders have sold a total of 168,099 shares of company stock worth $29,376,711 over the last quarter. Insiders own 0.06% of the company’s stock.

Shares of NASDAQ AAPL opened at $138.27 on Friday. The stock’s 50 day moving average price is $148.56 and its two-hundred day moving average price is $162.56. Apple Inc. has a 52-week low of $129.04 and a 52-week high of $182.94. The stock has a market capitalization of $2.24 trillion, a P/E ratio of 22.45, a PEG ratio of 1.78 and a beta of 1.20. The company has a quick ratio of 0.88, a current ratio of 0.93 and a debt-to-equity ratio of 1.53.

Apple (NASDAQ:AAPL – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.09. The firm had revenue of $97.28 billion for the quarter, compared to analysts’ expectations of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. Apple’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share. On average, analysts anticipate that Apple Inc. will post 6.11 EPS for the current year.

Apple announced that its board has approved a stock repurchase plan on Thursday, April 28th that allows the company to repurchase $90.00 billion in outstanding shares. This repurchase authorization allows the iPhone maker to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Monday, May 9th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Apple’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, May 6th. Apple’s dividend payout ratio is presently 14.94%.

AAPL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. set a $200.00 price objective on Apple in a research report on Monday. Rosenblatt Securities lowered their price objective on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, May 2nd. Sanford C. Bernstein set a $170.00 price objective on Apple in a research report on Monday, May 2nd. The Goldman Sachs Group set a $157.00 price objective on Apple in a research report on Friday, June 3rd. Finally, Evercore ISI initiated coverage on Apple in a research report on Friday, March 25th. They issued a “buy” rating and a $210.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Apple presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.55.

About Apple (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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